Gulfmark Energy Group Inc. of San Antonio, TX, said it has obtained financing from Notre-Dame Capital Inc. of Montreal to support development of its Eagle Ford Shale assets. The company said it intends to drill through the Escondido, Olmos, San Miguel, Austin Chalk and Eagle Ford formations. “We have yet to assess all of the undeveloped potential opportunities to expand our operations utilizing horizontal wells with multi-stage fracturing technologies,” said CEO Michael Ward. “Multiple targets have been identified; however, several other opportunities are currently under evaluation and analysis. This financing will allow us to explore all resources available in our current asset base.” Gulfmark operations are currently focused on western South Texas. Terms of the financing were not disclosed.
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Group: Climate Goals, Water at Risk in British Columbia
A nonprofit environmental group recommends British Columbia keep a close eye on the shale gas industry, warning that expanding development in the Montney and Horn River shale plays could hamper the province’s goals of reducing greenhouse gas (GHG) emissions and put stress on water sources.
Gas Groups Embrace DOE Energy Measurement
Natural gas groups have embraced the Department of Energy’s (DOE) decision to measure the energy use and greenhouse gas (GHG) emissions of energy products, such as natural gas, electricity, oil and coal, from the time they are extracted or generated to the point of end-use consumption.
AGA: Gas Appliances Fare Better in New DOE Energy Measurement
Natural gas groups have embraced the Department of Energy’s (DOE) decision to measure the energy use and greenhouse gas (GHG) emissions of energy products, such as natural gas, electricity, oil and coal, from the time they are extracted or generated to the point of end-use consumption.
Prices Barely Firmer for Second Day in a Row
With such locations as Little Rock, AR, and Shreveport, LA, destined to reach the low to mid 100s during the weekend and most other portions of the South hitting the mid 90s or so, cash prices managed to eke out small increases again Friday. That broke a down-up-down-up pattern established in the cash market earlier in the week.
Pennsylvania Shales Could Require 31,000 Jobs
The natural gas industry in Pennsylvania could need to fill nearly 31,000 jobs to keep up with growing shale development in the state over the next three years, according to a recent report.
Industry Briefs
NuStar Logistics has reactivated and plans to operate its 60-mile Pettus South Pipeline to transport Eagle Ford crude oil to Corpus Christi, TX, part of its agreement with Koch Pipeline Co. LP, a subsidiary of Koch Industries Inc. The move will add 30,000 b/d of capacity to the Koch system, which totals about 540 miles in South Texas. In May 2010 Koch completed projects to expand its crude oil and gas condensates capacity by 25,000 b/d, then added another 50,000 b/d of crude and condensate capacity through an agreement with Arrowhead Pipeline LP in September 2010.
Industry Brief
California regulators established privacy and security rules for smart grid elements such as smart meters. The California Public Utilities Commission (CPUC) unanimously approved rules to prohibit utilities or others from using consumer data for purposes other than utility operations without individual written customer consent. Earlier at the CPUC meeting consumers complained about smart meters causing health problems, an issue that earlier in the year prompted the CPUC to start an opt-out program for consumers who do not want one of the new meters. That proceeding is now ongoing.
Wide Range of Applications Seen for Marcellus Shale Gas
Expanded use of combined heat and power (CHP) systems, which recover and make use of waste heat from power generation, could be a means of growing demand for Marcellus Shale natural gas, according to the Commonwealth Recycled Energy Economic Development Alliance (CREEDA).
Montana Regulators Weighing Fracking Rules
Montana’s Department of Natural Resources and Conservation (DNRC) is considering new rules to regulate hydraulic fracturing (hydrofracking) activities in the state and has scheduled a public hearing on proposed rules for June 15.